Summary
The fund managers believe that Macquarie Group Ltd (MQG) represents a strong investment opportunity, characterized by its expertise in value creation and resilience during market volatility. They noted the company’s impressive management team and its ability to capitalize on long-term global trends such as energy transition and infrastructure investment. Recent financial reports indicate a positive outlook, with strong performance in both asset management and banking divisions, which is expected to drive earnings growth. The fund managers also highlighted that MQG is well-positioned to benefit from increased volatility in energy markets, particularly in light of geopolitical tensions. Despite facing some regulatory pressures, they maintain that the company’s diverse global presence and attractive valuation relative to peers will support its growth trajectory. Overall, the consensus suggests that MQG remains a core holding for investors seeking long-term returns.
Please note: The completeness, accuracy or current status of the investments referenced are not guaranteed.
Source: Trading View
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Commentary From The Managers
Airlie Funds Management
1 Aug 2025
$213.78
Summary
- Airlie Funds Management continues to hold Macquarie Group Ltd in their portfolio.
- Current market conditions indicate a lull for Macquarie, alongside some regulatory pressure.
- These challenges are expected to pass over time.
- The breadth of Macquarie's business and its global presence are seen as attractive.
- Airlie believes Macquarie will resume growth in the near future.
- Compared to Westpac, Macquarie's valuation at 19 times PE is considered favorable.
- In a three to five-year outlook, Macquarie Group is expected to outperform Westpac.
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Please note: The completeness, accuracy or current status of the investments referenced are not guaranteed.
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Commentary From The Managers
Airlie Funds Management
1 Aug 2025
$213.78
Summary
- Airlie Funds Management continues to hold Macquarie Group Ltd in their portfolio.
- Current market conditions indicate a lull for Macquarie, alongside some regulatory pressure.
- These challenges are expected to pass over time.
- The breadth of Macquarie's business and its global presence are seen as attractive.
- Airlie believes Macquarie will resume growth in the near future.
- Compared to Westpac, Macquarie's valuation at 19 times PE is considered favorable.
- In a three to five-year outlook, Macquarie Group is expected to outperform Westpac.
Endeavor Asset Management
30 June 2025
$228.73
Summary
- Endeavor Asset Management continues to hold Macquarie Group (MQG) as a core holding in the Balanced Portfolio.
- MQG's share price increased by 6.8% in June.
- The business is expected to benefit from escalating military conflict between Israel and Iran.
- This conflict has driven a rise in oil prices and increased volatility in energy markets.
- Heightened volatility is projected to lead to higher revenue for MQG’s Commodities and Global Markets (CGM) segment.
- Forecasted revenue growth for CGM is 5-6% year-over-year for FY26.
- This growth is expected to contribute approximately 2% of EPS growth to the bottom line.
Antares Capital
30 June 2025
$228.73
Summary
- Antares Capital initiated a position in Macquarie Group (MQG) following a significant market sell-off in April 2025.
- The sell-off was triggered by US President Donald Trump’s Liberation Day tariff announcement.
- MQG's earnings, being sensitive to financial market conditions, were unduly punished, creating an attractive entry point.
- Antares Capital views MQG as a high-quality business with a robust franchise.
- The management team has demonstrated resilience through various volatile periods.
- MQG is strategically positioned to capitalize on long-term global mega-trends such as energy transition and decarbonisation.
- Additional growth opportunities include private credit, infrastructure investment, and alternative asset growth.
Endeavor Asset Management
31 May 2025
$212.12
Summary
- Endeavor Asset Management notes that Macquarie Bank's (MQG) FY25 result was in line with consensus.
- The asset management division demonstrated strong performance fees and asset realisations.
- Equally, the banking division showed strength in its loan portfolio and deposit base.
- There is an expectation that both divisions will carry their positive momentum into FY26.
Ten Cap
31 Jan 2025
$240.80
Summary
- Increased exposure to Macquarie Group Ltd (MQG) over the month
- Driven by an attractive CY25 financial outlook
- Deregulation is contributing to positive expectations
- Improving sentiment among investors, referred to as ‘animal spirits’
- Positive commentary surrounding transaction forecasts
- Underpins a strong earnings and shareholder return outlook
Endeavor Asset Management
30 June 2024
$203.16
Summary
- Macquarie's share price increased by 7% in June due to unexpected broker EPS upgrades.
- Endeavor Asset Management continues to hold MQG as they believe it can benefit during elevated energy market volatility.
- Current volatility is influenced by recent events, including potential developments from Hurricane Beryl.
Cooper Investors
31 Mar 2023
$175.66
Summary
- Cooper Investors attended Macquarie’s (MQG) three-day investor tour in the US.
- Investors were able to further explore key themes through various presentations and asset tours.
- Exposure to key divisional personnel was crucial in understanding the opportunity set.
- Cooper Investors was impressed with the insights gained during the tour.
- This experience enhanced comfort in the investment thesis, which supports backing expert value creators.
- Macquarie demonstrates an outstanding track-record and leadership in attractive industries.
- Furthermore, Macquarie exhibits a deep culture and capability that reinforces investment confidence.
Please note: The completeness, accuracy or current status of the investments referenced are not guaranteed.
Frequently Asked Questions
Who has invested in Macquarie Group Ltd (ASX:MQG)?
Fund managers including Cooper Investors, Endeavor Asset Management, Ten Cap, Antares Capital and Airlie Funds Management have invested in Macquarie Group Ltd (ASX:MQG).
Why have investment managers invested in Macquarie Group Ltd (ASX:MQG)?
Fund managers invest in Macquarie Group Ltd (MQG) due to its strong track record, expert leadership, and diverse business model that positions it well for growth in volatile markets. They appreciate Macquarie's ability to capitalize on global mega-trends such as energy transition and infrastructure investment. Recent financial performance, including broker upgrades and strong earnings outlooks, further enhances confidence. Additionally, the company's resilience during market fluctuations and its strategic positioning in attractive industries make it a compelling investment choice for fund managers.
What happened to Macquarie Group Ltd (ASX:MQG)?
In June 2025, fund managers expressed strong confidence in Macquarie Group Ltd (MQG), trading at approximately $228.73. Antares Capital highlighted MQG's resilience during market volatility, viewing the recent sell-off as an opportunity to invest at an attractive earnings multiple, given its robust management and positioning in long-term global trends like energy transition and infrastructure investment. Meanwhile, Endeavor Asset Management noted a 6.8% share price increase in June, driven by geopolitical tensions that typically enhance revenue for MQG's Commodities and Global Markets segment, projecting a 5-6% year-over-year growth for FY26. Airlie Funds Management also reaffirmed MQG as a buy, anticipating future growth despite current regulatory pressures, and emphasizing its competitive valuation compared to peers like Westpac.